Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Reaffirmed by Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $8.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 87.22% from the stock’s previous close.

Separately, StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $4.54 on Wednesday. The stock has a market cap of $258.87 million, a price-to-earnings ratio of 11.07 and a beta of 0.61. The business has a fifty day moving average of $5.35 and a 200-day moving average of $5.79. Gilat Satellite Networks has a fifty-two week low of $4.41 and a fifty-two week high of $7.16. The company has a quick ratio of 1.66, a current ratio of 2.00 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Wednesday, May 8th. The communications equipment provider reported $0.11 EPS for the quarter. The firm had revenue of $76.08 million during the quarter. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. boosted its holdings in Gilat Satellite Networks by 10.8% in the third quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 3,533 shares during the last quarter. Jump Financial LLC boosted its holdings in Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 4,567 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Gilat Satellite Networks by 150.5% during the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 4,733 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in Gilat Satellite Networks by 19.6% during the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 5,559 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in Gilat Satellite Networks during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.